Encompass Capital Advisors LLC Sells 325,000 Shares of Cameco Corporation $CCJ

Encompass Capital Advisors LLC lessened its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,000 shares of the basic materials company’s stock after selling 325,000 shares during the quarter. Cameco comprises 1.4% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 26th largest position. Encompass Capital Advisors LLC owned about 0.09% of Cameco worth $34,309,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Legal & General Group Plc lifted its position in Cameco by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock worth $208,450,000 after buying an additional 108,841 shares during the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in Cameco in the 4th quarter worth approximately $1,974,000. Intech Investment Management LLC lifted its position in Cameco by 3.8% in the 3rd quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after buying an additional 18,261 shares during the last quarter. Vanguard Group Inc. lifted its position in Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after buying an additional 258,193 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after buying an additional 85,762 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of Cameco stock opened at $105.70 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The business’s 50 day simple moving average is $112.82 and its two-hundred day simple moving average is $109.66. The stock has a market capitalization of $46.04 billion, a P/E ratio of 97.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99. Cameco Corporation has a one year low of $67.60 and a one year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. Analysts forecast that Cameco Corporation will post 1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CCJ. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce boosted their target price on Cameco to $202.00 in a research report on Monday, March 9th. Barclays began coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price for the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.42.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.